Kewill's cost cutting pays off

FORMER stock market darling Kewill Systems' cost-cutting programme has stabilised the company's performance and it is on course to break even in the second half.

Kewill's confirmation that axeing 90 jobs had helped stem losses in the face of dwindling sales helped its shares improve 5p to 42p today, still a far cry from their 3113p peak.

The supply-chain software specialist, which makes 80% of its sales in the US, said trading there had improved since the restructuring was unveiled in August. Interim results on 13 November are expected to show operating losses of about £5.1m.